HB2944

Modifies the local senior citizen homestead tax credit in Missouri, allowing eligible taxpayers to receive a credit without annual reapplication.

This bill modifies the local senior citizen homestead tax credit in Missouri. It allows eligible taxpayers, who are 62 years of age or older and own a homestead, to receive a property tax credit without needing to reapply annually. The credit amount is the difference between the taxpayer's real property tax liability on their homestead for a given tax year and the liability in the initial credit year. The bill also outlines procedures for how counties can adopt ordinances to authorize the credit and how the credit is applied to the taxpayer's property tax liability.